“Guo said that global jurisdictions can borrow from the DeFi model to allow qualified parties to issue digital assets backed by real world assets like real estate and stocks, and using them as collateral to secure loans in CBDCs.
According to the executive, such developments could bring tremendous liquidity to the economy.
The central bank is keeping track of recent developments in the DeFi industry, however, before trying to adopt the new technology to Thailand’s native cryptocurrency, the central bank has to solve two main issues around the DeFi — customer identification and privacy.
The Bank of Thailand has already deployed its CBDC for financial transactions with some large businesses earlier this year.”
“South Korea’s Woori and Shinhan banks have just announced their intention to introduce “crypto-asset services”.
That means that four of the country’s top five banks, holding a combined value of more than $1.2 trillion in assets, are now poised to introduce crypto services. Each of the banks aims to hold and manage cryptocurrencies for clients.”
“On Thursday, an anonymous DeFi user deployed Curve Finance’s Decentralized Autonomous Organization (DAO) and token smart contracts without the team’s permission.
Following the deployment, Curve Finance tweeted it had ‘no choice but to adopt it,’ saying in another tweet it appears ‘to be an acceptable deployment with the correct code.’
The abruptness of the launch and the team’s willingness to go along with the premature activation has raised eyebrows in the DeFi community.”
See Also: Curve Finance ($CRV) Yield Farming (Video)
See Also: The Yam Protocol Will Migrate Old Tokens to an Audited Contract
“[From] Aug. 28 verification will be mandatory for all users, a process that will include proofs of location, funds, trading experience, and more. The policy change comes with a six-month “grace period” ending in February 2021 to accommodate unverified users completing the process.
The exchange’s primary motivations for this change are to remove barriers to entry for some of its target users, improve the security of the platform, and “get ahead of evolving regulation” in the cryptocurrency industry.”
“The digital currency will be trialed in major cities across the most-developed regions.
When the new trials might start was not disclosed, but the ministry reportedly said the project design is hoped to be wrapped up by the end of this year.”
“Partners of Wyre are able to offer their users a crypto savings account by simply creating a new savings sub-wallet via the Wyre API.
The new product’s interest rates are meant to be more stable than interest rates at crypto lenders because Wyre will manage funds between MakerDAO, Compound and two centralized crypto lenders.
As of Aug. 12, interest rates were 2.4% on bitcoin (BTC), 2.4% on wrapped bitcoin (WBTC), 3.3% on ether (ETH), 5.8% on USDC and 5.7% on dai.”
“The United States Postal Service (USPS) has moved to patent a novel vote-by-mail elections system secured with blockchain technology.
Among the various “embodiments” include: mailing out token-linked QR codes; distributing scannable paper passcodes to a digital voting system; storing voter identification on the blockchain; storing electronic voting signatures on the blockchain; and storing the votes themselves on the blockchain.”
“Aave has released specifications for version two of its protocol as the project eyes $1 billion locked under contract. Aave will partner with real estate tokenization firm RealT to bring home mortgages to DeFi.
v2 will introduce the ability to swap debt from one currency to another and the ability to swap collateral without returning the loan.”
See Also: Unsecured loans are coming to DeFi
“BBC Studios has issued an exclusive global license to the U.K.-based mobile game publisher Reality Gaming Group to develop a digital trading card game on the ethereum blockchain for its hit sci-fi show, Dr. Who.
Fans will be able to collect and trade digital versions of their favorite characters, and battle friends in the Doctor Who: Worlds Apart game. Trading cards collected by players will be tokenized into non-fungible or unique tokens that cannot be copied.“
“Tom Emmer, a U.S. congressman from Minnesota and chairman of the National Republican Congressional Committee (NRCC), announced Thursday that next week he will lead the first cryptocurrency town hall to celebrate innovators leading the development of virtual currencies.
The town hall is intended to encourage “politically engaged voters” to take part in the growing digital asset transformation as the election nears. The town hall will be held virtually on Aug. 20 at 12:30 p.m. ET.“
“Epic Games has filed suit against Apple Inc. for allegedly monopolizing the in-app payments market and making “innovations” like bitcoin payments all but impossible.
Epic Games demanded the U.S. District Court for the Northern District of California prohibit Apple from acting in an anti-competitive manner and end what it called Apple’s stranglehold on in-app payments.
The lawsuit appears to be a legal volley in a campaign Epic Games began against Apple after the tech giant booted Fortnite from the Apple app store on Thursday.”